Unilever 2008 Annual Report Download - page 106

Download and view the complete annual report

Please find page 106 of the 2008 Unilever annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 165

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165

Notes to the consolidated accounts Unilever Group
Unilever Annual Report and Accounts 2008 103
Financial statements
14 Trade and other receivables
€ million € million
Trade and other receivables 2008 2007
Due within one year
Trade receivables 2 788 2 965
Prepayments and accrued income 380 467
Other receivables 655 762
3 823 4 194
Credit terms for customers are determined in individual territories. Concentrations of credit risk with respect to trade receivables are limited, due
to the Group’s customer base being large and diverse. Our historical experience of collecting receivables, supported by the level of default, is
that credit risk is low across territories and so trade receivables are considered to be a single class of financial assets. Other receivables comprise
loans and receivables of €258 million (2007: €362 million) and other non-financial assets of €397 million (2007: €400 million). We do not
consider the fair values of trade and other receivables to be significantly different from their carrying values. Balances are considered for
impairment on an individual basis rather than by reference to the extent that they become overdue.
€ million € million
Ageing of trade receivables 2008 2007
Total trade receivables 2 908 3 112
Less impairment provision for trade receivables (120) (147)
2 788 2 965
Of which:
Not overdue 2 182 2 240
Past due less than three months 499 649
Past due more than three months but less than six months 100 85
Past due more than six months but less than one year 52 57
Past due more than one year 75 81
Impairment provision for trade receivables (120) (147)
2 788 2 965
€ million € million
Impairment provision for trade and other receivables – movements during the year 2008 2007
1 January 176 180
Charged to current year income statement 36 39
Reductions/releases (37) (40)
Currency retranslation (10) (3)
31 December 165 176
Other classes of assets in trade and other receivables do not include any impaired assets.
15 Cash and cash equivalents and other financial assets
€ million € million
Cash and cash equivalents and other financial assets 2008 2007
Cash and cash equivalents
Cash at bank and in hand 587 507
Short-term deposits with maturity of less than three months 1 974 500
Other cash equivalents(a):–91
2 561 1 098
Other financial assets(b)
Held-to-maturity investments 13 15
Loans and receivables –2
Available-for-sale financial assets –91
Financial assets at fair value through profit or loss(c) 619 108
632 216
Of which:
Listed 31 41
Unlisted 601 175
632 216
(a) Other cash equivalents are wholly comprised of available-for-sale financial assets.
(b) Other financial assets include government securities, A minus or higher rated money and capital market instruments and derivatives.
(c) Financial assets at fair value through profit and loss include derivatives amounting to €597 million (2007: €78 million).